Electricity prices across New York, New Jersey, and Connecticut keep climbing. More homeowners are turning to solar in 2026 to lock in a steadier cost. But one question comes up again and again. How do you actually pay for it?
Solar financing usually comes down to three paths: cash, a loan, or a lease. Each one changes your monthly budget, your long-term savings, and who keeps the state incentives.
At Infinity Energy, we have completed more than 10,000 installations across the tri-state area. The right fit depends on your cash, your goals, and how long you plan to stay put. Here is an honest look at how each option works.
The three ways to pay for solar
Most tri-state homeowners choose one of three routes. You can buy the system outright with cash. You can finance it with a solar loan, often for $0 down. Or you can lease it for a fixed monthly payment.
Cash and loans both make you the owner. A lease does not. That one difference drives most of the math below.
Buying solar with cash
Paying cash is the simplest route. You own the system from day one, and you carry no monthly payment. Every dollar your panels save on electricity stays with you.
Cash buyers also keep every state incentive. In New Jersey, that means SuSI SREC-II payments, worth roughly $680 a year for 15 years. Over in New York, it means the 25% state tax credit, up to $5,000.
The trade-off is the upfront cost. A full system is a real investment, and not every household has that amount ready. If you do, cash usually delivers the strongest lifetime return.
Financing solar with a loan
A solar loan lets you own the system without paying the full price today. Infinity Energy offers $0 down solar financing, so many homeowners begin with no out-of-pocket cost. You then repay the loan in fixed monthly installments.
Ownership is the big advantage here. Because the system is yours, you still collect the state incentives. New Jersey owners earn SREC-II income. New York owners can claim the state tax credit, and those benefits often offset a large share of the payments.
Loan terms and rates depend on your credit and the lender. Shorter terms mean higher payments but less interest over time. A loan tends to shine when you plan to stay in the home for years.
Leasing your solar system
A lease, or a similar power purchase agreement (PPA), works differently. A third party owns the panels on your roof. You simply pay a set monthly amount for the power they make.
The appeal is low commitment. There is little or no upfront cost, and the provider handles most maintenance. For some households, that simplicity carries real weight.
There is a catch, though. Since you do not own the system, the leasing company keeps most state incentives. In New Jersey, the provider collects your SREC-II payments and net metering credits. New York is the exception. Lease and power purchase customers can still claim the state’s 25% Solar Energy System Equipment Credit, up to $5,000.
Most leases also include an annual price increase, often around 2% to 3%. Across 20 years, that escalator adds up. Your total savings usually land below what cash or a loan would deliver.
Will a solar payment beat your electric bill?
This is the question that matters most day to day. With a loan or lease, the goal is a solar payment that sits near or below your current electric bill. When it does, you start saving right away.
Rising utility rates help the math. As the grid gets more expensive, a fixed solar payment looks better each year. A paid-off or owned system looks better still, because the payments eventually end while the savings continue.
Why ownership matters in NY, NJ, and CT
The tri-state incentive stack rewards owners. That is the key point to grasp before you sign anything.
New Jersey ties SREC-II income and 1:1 net metering to the owner. Connecticut’s RRES program and its Energy Storage Solutions battery incentive follow similar rules. New York layers on NY-Sun rebates for owners, plus a 25% state tax credit that owners and lease customers alike can claim.
All three states also exempt solar from added sales and property tax. Own your system, with cash or a loan, and these benefits flow to you. Lease it, and most of them flow to the provider instead.
Which option fits your home?
Start with two questions. How long will you stay in the home, and how do you want to handle the upfront cost?
Planning to stay many years and able to pay upfront? Cash gives the best return. Want ownership without the big check? A loan spreads the cost while keeping the incentives. Prefer the lowest commitment and fine with smaller savings? A lease can still fit.
There is no single right answer. The best choice is simply the one that matches your budget and your plans.
Let’s find the right fit
Numbers like these get easier to weigh with a real quote in hand. Our team can walk you through cash, loan, and lease options side by side, using your actual electric bill and roof.
When you are ready, reach out to Infinity Energy for a free, no-pressure consultation. We will help you find the path that fits your home and your budget.
